Ohh RIM… why do we continue to circle back to thee…. and never with good news. This morning RIM shares dropped 14% in preopen trades and may not fair too well throughout the day. This is a result of RIM’s forecast decrease in first-quarter profit outlook from $1.55 a share to $1.30 a share. RIM’s less sweaty Co-CEO Jim Balsillie said today “We are cutting over to a whole new platform with whole new products and whole new architecture… the transition right now is affecting near-term volume.” I hate to tell him, but those new products aren’t looking too promising for the long term either… new products are supposed to generate buzz about your company and lift you in the short-term, you know, when they’re good products.
Posts tagged ‘Decline’